Bank Nifty Trade Plan for 29 June

By | June 28, 2022 10:30 pm

As Discussed in Last Analysis  Bank Nifty did all targt on upside and Now we have Neptune Retrograde /New Moon and Moon Declination today suggesting important Astro High Intensity date. Today first 15 mins High and Low will decide the trend for the day.For Swing traders Bulls need to move above 33939 for a move towards 34121/34304/34487 . Bears will get active below 33729 for a move towards 33573/33390/33125. Bears got whipsawed today Bulls were able to do 1 target on upside. For Swing traders Bulls need to move above 33777 for a move towards 33962/33147 . Bears will get active below 33408 for a move towards 33223/33038/32854.


Intraday time for reversal can be at 9:41/11:17/12:50/1:59/2:43   How to Find and Trade Intraday Reversal Times

Bank Nifty May Future Open Interest Volume is at 14.9 lakh with liquidation of  5 Lakh contract , with decrease in Cost of Carry suggesting  Long positions were added today.

Bank Nifty rollover cost @ 34598 and Rollover @79.5 % Closed below it and got big move on downside.

As per Musical Octave Above 33195 Rally towards 34183. High made was 34147 so target almost done. 

Maximum Call open interest of 41 lakh contracts was seen at 34000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 31 lakh contracts was seen at 33500 strike, which will act as a crucial Support level

MAX Pain is at 33600 and PCR @0.96 . PCR below 0.9 and above 1.3 lead to trending moves, and in between leads to range bound markets. So, after all the mayhem, we are probably returning to sanity is what is indicated by the rising PCR.

Those who rid themselves of their egos are rewarded greatly. They are the superstars of their fields. In the market, rewards come in the form of profits. In the world of art, masterpieces are the results. In sports, the players are all-stars and command enormous salaries. Every pursuit has its own manifestation of victory over the ego.

For Positional Traders Trend Change Level is 34311 on Futures and go long and short above/below it That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 33640  will act as a Intraday Trend Change Level. 

Buy Above 33636 Tgt 33729, 33872 and 33999 (Bank Nifty Spot Levels)

Sell Below 33515 Tgt 33388, 33273 and 33100 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

Category: Bank Nifty

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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